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Tomy acquires Boon - ToyNews

Tomy acquires Boon

Firm buys assets of Boon and Keen Distribution, mother, infant and toddler product distributor.
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Boon offers branded feeding, bath, decor and organisation products and Keen Distribution is the US marketer and distributor for Bumbo International, manufacturer of the Bumbo Baby Seat and products from the UK-based company, The Gro Company.

The acquisition is said to be a means to expand Tomy's presence in the nursery sector.

Boon/Keen's full year net sales totalled approximately $23 million with sales growth expected in the second half of 2011 and in 2012.

Tomy funded the acquisition with around $20 million from its existing cash and Boon/Keen's senior management will retain approximately 20 per cent carry-over ownership.

Curt Stoelting, CEO of Tomy International, said: "We are delighted to have completed the acquisition of Boon and Keen Distribution. Their existing and recently developed, innovative mother, infant and toddler products are a great fit with our existing The First Years, Lamaze and JJ Cole Collections brands.

"We plan to aggressively expand Boon/Keen internationally and support growth into new product areas, while maintaining their existing premium positioning. The acquired brands and products and the new additions to our management team allow us to rapidly expand our presence in convenient, design-driven mother, infant and toddler products."

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